Making the move to value-based health

A few years ago, the IBV Institute for Business Value published a report which predicted the convergence of population health management and precision medicine into a new healthcare model we called Precision Health and Wellness. We believed a key component of that model would be a continued transition to outcome-based results and lower costs.

Fast forward to 2019 and our latest research found that not only had those predictions become real but that the speed of change had increased. Globally, healthcare systems are looking at how to maintain access, quality, and efficiency. Emphasis has shifted from volume of services toward patient outcomes, efficiency, wellness, and cost savings. And there is a recognition that the focus on “care” alone will be not deliver the degree of outcome improvement and cost reduction needed by providers or payers. Instead they will need engage the individuals, employers, communities, and social organizations as key partners in the process.

By using collaboration models, shared information, and innovative technology solutions across these stakeholders, better outcomes can be achieved across the whole lifespan of the individual—not just in doctors’ offices and hospitals, but in their daily lives, homes, and communities. It is this extension of health and wellness beyond the traditional clinical environment that takes care to the next level – value-based health.

Value -based health entails keeping individuals healthy and well even when not receiving healthcare services. Engaging people and communities in health, identifying and addressing social determinants of health, and making sure community resources are available and accessible are cornerstones of value-based health.

In order to determine what is needed to transition from traditional value-based care towards value-based health, we spoke with a thousand healthcare executives in payer and provider organizations around the world.